Following the surprising move by the government to ban all Rs 500 and Rs 1,000 notes on the face of the earth, the people of the nation went into a panic mode. Waiting outside banks and ATMs in long queues to exchange their currencies was the priority, but e-commerce sites had to come up with a solution to ease shoppers' worries.
While two largest e-commerce sites Amazon and Flipkart ceased cash on delivery option for shoppers, Snapdeal took this opportunity to give shoppers an alternate solution. In partnership with FreeCharge, Snapdeal introduced "Wallet on Delivery".
It's exactly what you are thinking. Scraping cash on delivery and presenting the shoppers an option to pay only once the product has arrived at the doorstep using virtual wallet. A smart move you'd say. It is indeed a solution for those who are skeptical to pay for a product before it is delivered.
"The launch of Wallet on Delivery is an absolute need of the hour for consumers. More than a year ago, we had made a strategic decision to build India's best digital payments platform to offer the fastest and most efficient payments experience in the country," Kunal Bahl, CEO and Co-founder of Snapdeal, said in a statement. "The launch of this new feature by FreeCharge shortly after the announcement of the demonetisation of Rs.500 and Rs.1000 currency notes demonstrates our speed of execution in ensuring consumers' needs are met in real time. We are delighted to continue our contribution to the Hon'ble Prime Minister's vision to build a cashless society."
Wallet on Delivery option will be available to shoppers starting November 10 and cover Snapdeal and FreeCharge users across India in the next few weeks. As long as you have cash in your FreeCharge wallet, enjoy the option to pay for online shopping after delivery.
For those who are wondering, FreeCharge has a wide range of coverage in India with its services allowing users to pay for cabs, metro, phone recharges, electricity, gas, petrol, DTH, movies, food and utilities. With the demonetisation of the Rs 500 and Rs 1,000 currency notes, fintech solutions such as Paytm and FreeCharge are likely to gain a massive boost.
Paytm said it recorded a massive 435 percent increase in overall traffic within hours of the PM Modi's announcement on Tuesday.